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US-based stock funds attract inflows after 2 weeks of withdrawals: Lipper

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Investors turned more positive on US-based stock exchange-trade funds during the week ended April 27 as huge inflows into those funds slightly exceeded withdrawals from stock mutual funds, Lipper data showed on Thursday.

[NEW YORK] Investors turned more positive on US-based stock exchange-trade funds during the week ended April 27 as huge inflows into those funds slightly exceeded withdrawals from stock mutual funds, Lipper data showed on Thursday.

The net inflow of US$100.1 million marked the first inflows following a two-week period in which the funds posted US$9.3 billion in outflows, according to the data.

US-based stock ETFs attracted US$4.6 billion in the latest week, and US-based stock mutual funds posted cash withdrawals of US$4.5 billion, the group's seventh week of outflows.

Overall, US-based domestic-focused stock funds garnered US$1 billion while non-domestic-focused posted withdrawals of US$900 million, according to Lipper.

For their part, US-based money-market funds attracted US$5 billion, after three weeks of cash withdrawals, Lipper said.

REUTERS